Bloomberg News

Solexel Gets $31 Million for Solar Panel Production

July 21, 2014

Solexel Inc., a closely held solar-panel manufacturer backed by SunPower Corp. (SPWR:US), raised $31 million in equity funding to begin commercial-scale module production.

The deal increases funds raised from investors including Kleiner Perkins Caufield & Byers, Technology Partners and DAG Ventures to $200 million, Mark Kerstens, acting chief financial officer, said today in a telephone interview.

SunPower invested in Milpitas, California-based Solexel in 2012.

Solexel makes solar cells by using silicon gas instead of growing silicon ingots in furnaces and slicing them into wafers.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Carlos Caminada, Will Wade


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Companies Mentioned

  • SPWR
    (SunPower Corp)
    • $36.71 USD
    • -1.36
    • -3.7%
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